Minister of Labor, Welfare and Social Services Haim Katz resigned on Friday

Welfare Minister Haim Katz on Friday announced his resignation and handed his resignation letter to Prime Minister Benjamin Netanyahu. In his resignation letter Katz denied being credited with the indictment in the stock affair and wrote: "In all my actions as a minister and as a Knesset member, I have acted in a matter-of-fact and impartial manner for the benefit of the public, including employees, pensioners and those with whom they fail. The public mission is my life's mission, For the citizens in every way possible. "

Attorney General and legal advisor of the governmentl Avihai Mandelblit announced a few days ago of his decision to indict Welfare Minister Haim Katz for fraudulent fraud and breach of trust.
At the same time, Mandelblit Letsz announced the closure of the investigation file on suspicion of extortion of threats and fraud in the aerospace industry.
Katz announced that he would ask the Knesset not to remove his immunity. Katz can notify the Speaker of the Knesset by September 13 of his desire for immunity. After announcing his wish for immunity, Knesset Speaker Yuli Edelstein will decide whether to set up a temporary Knesset committee now or after the next Knesset convenes to discuss his request.
Katz will be indicted following a five-year relationship with capital market activist Moti Ben Ari. Against Katz's alleged accomplice, Ben Ari decided to indict him for committing fraud and breach of trust with Katz as well as using inside information. The indictment will first be submitted to the Speaker of the Knesset, and as Katz's immunity is removed, he will be brought to court.
Regarding Katz Kosher's term of office, the Basic Law does not require him to suspend himself in office in the event of an indictment. However, two substantive rulings of the Supreme Court, one in the case of Arie Deri, stated that if a minister or deputy minister does not resign his initiative after he has been indicted on serious offenses, the prime minister must exercise his authority and dismiss him.
According to the letter of suspicion against Katz, from 2015-2010 Ben Ari, Katz's close friend, served as financial adviser to Aquital - a dominant public holding company in the Israeli economy. As part of the relationship between the two, Ben Ari granted Minister Katz, according to suspicion, long-term favors, which generated him millions of shekels, while at the same time Minister Katz promoted Ben Ari's interests, taking advantage of his public role.
In total, according to the Prosecutor's Office, there were 4 types of pleasures that Katz received from an Aryan son. The first type, dozens of exchanges on the stock exchange in front of him that yielded guaranteed profits; The second, getting a succulent tip and oil from Aryan, which comes from Aquital's insider information, based on its acquisition
Katz shares a total of NIS 1.515 million for himself and his sons Yair and Amir. In a transaction that resulted in a profit of NIS 206,000 in just five days in the shares of the army (22.3% return).
The third type of benefit, according to the researchers, was the management of Katz's free portfolio by Ben Ari while he served as MK; The fourth type was the management of Katz's trust account by Ben Ari for no consideration after being appointed minister.
According to Kobi Maimon's Equity suspicion, Ben Ari, who managed its portfolio, held about 10% of Lito Group's public real estate liabilities in the amount of NIS 110 million at the end of 2010. Katz promotes Amendment 44 to the Securities Law, which stipulates that a company in difficulty will order to pay its debts first to the holders of the public and only subsequently to the controlling shareholders. The amendment yielded, directly or indirectly, an estimated economic benefit of tens of millions NIS.
In the Air Industries affair in which it was decided, as aforesaid, to close the case against him, Katz suspected that, together with senior workers, he was working to extort workers in the company to function for Likud. In addition, Katz was suspected of acting in violation of the attorney general's directive and intervening in the appointment of a chairman of the board.